Handelsinvest Investeringsforvaltning Cuts Holdings in TD SYNNEX Co. (NYSE:SNX)

Handelsinvest Investeringsforvaltning reduced its position in TD SYNNEX Co. (NYSE:SNX) by 15.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,022 shares of the business services provider’s stock after selling 908 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in TD SYNNEX were worth $568,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SNX. Diversified Trust Co raised its position in shares of TD SYNNEX by 15.9% during the 4th quarter. Diversified Trust Co now owns 2,989 shares of the business services provider’s stock valued at $322,000 after buying an additional 409 shares in the last quarter. Goldman Sachs Group Inc. raised its position in TD SYNNEX by 63.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 164,999 shares of the business services provider’s stock valued at $17,756,000 after purchasing an additional 64,024 shares during the period. Norges Bank purchased a new stake in TD SYNNEX during the fourth quarter valued at approximately $79,506,000. Principal Financial Group Inc. lifted its stake in shares of TD SYNNEX by 1.9% in the 4th quarter. Principal Financial Group Inc. now owns 733,239 shares of the business services provider’s stock valued at $78,904,000 after purchasing an additional 13,730 shares during the last quarter. Finally, Raymond James Trust N.A. boosted its holdings in shares of TD SYNNEX by 9.0% in the 4th quarter. Raymond James Trust N.A. now owns 3,613 shares of the business services provider’s stock worth $389,000 after purchasing an additional 297 shares during the period. 84.00% of the stock is owned by institutional investors.

TD SYNNEX Price Performance

Shares of SNX opened at $112.39 on Wednesday. The company has a 50 day moving average of $124.63 and a two-hundred day moving average of $112.84. The company has a quick ratio of 0.78, a current ratio of 1.26 and a debt-to-equity ratio of 0.47. TD SYNNEX Co. has a twelve month low of $89.73 and a twelve month high of $133.85. The company has a market cap of $10.01 billion, a price-to-earnings ratio of 15.74, a price-to-earnings-growth ratio of 1.14 and a beta of 1.52.

TD SYNNEX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 12th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, July 12th. This represents a $1.60 annualized dividend and a yield of 1.42%. TD SYNNEX’s dividend payout ratio (DPR) is 22.41%.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, insider Dennis Polk sold 20,000 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.66, for a total value of $2,313,200.00. Following the completion of the sale, the insider now owns 134,706 shares of the company’s stock, valued at $15,580,095.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Richard T. Hume sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $115.79, for a total value of $1,157,900.00. Following the completion of the transaction, the chief executive officer now owns 219,363 shares in the company, valued at approximately $25,400,041.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.66, for a total value of $2,313,200.00. Following the sale, the insider now owns 134,706 shares in the company, valued at approximately $15,580,095.96. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock valued at $5,833,100 in the last ninety days. Corporate insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

SNX has been the topic of several recent research reports. Barrington Research restated an “outperform” rating and set a $138.00 price target on shares of TD SYNNEX in a report on Wednesday, June 26th. Bank of America lowered their target price on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, June 27th. Cfra upped their price target on shares of TD SYNNEX from $110.00 to $113.00 and gave the company a “hold” rating in a report on Tuesday, March 26th. JPMorgan Chase & Co. decreased their price objective on shares of TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. Finally, UBS Group upped their target price on TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $126.10.

TD SYNNEX Company Profile

TD SYNNEX Corporation operates as a distributor and solutions aggregator for the information technology (IT) ecosystem. The company offers personal computing devices and peripherals, mobile phones and accessories, printers, supplies, and endpoint technology software; and data center technologies, such as hybrid cloud, security, storage, networking, servers, technology software, and converged and hyper-converged infrastructure, as well as computing components.